Taseko Mines Ltd

Trekor Metals posted second-quarter 2026 adjusted EBITDA of $125 million, driven by record copper prices and strong production at its Gibraltar mine. Earnings from mining operations before depletion, amortization and non-recurring items reached $154 million, while revenues totaled $331 million from consolidated sales of 37.5 million pounds of copper and 575 thousand pounds of molybdenum. Net income was $22 million, or $0.06 per share, and adjusted net income came in at $40 million, or $0.11 per share. Operating cash flow surged to $183 million, reflecting the company's significant leverage to copper prices. Production guidance remains unchanged at 110 to 115 million pounds for Gibraltar and 30 to 35 million pounds for Florence Copper, where the ramp-up continues with 5.2 million pounds of cathode produced in its first full quarter of operations.

Trekor Metals shares rose 9.3% on Tuesday after the company reported higher second-quarter copper production and sales at its Gibraltar mine in British Columbia and its Florence Copper production facility in Arizona. The Gibraltar mine produced 30.3 million pounds of copper and 559,000 pounds of molybdenum in the quarter, with copper sales of 32.2 million pounds, compared with 30 million pounds of copper and 717,000 pounds of molybdenum produced in the first quarter on sales of 27 million pounds. The Florence copper operation, which started up in mid-February, produced 5.2 million pounds of copper cathode and recorded sales of 5.3 million pounds, including 1.5 million pounds produced in the last five weeks of the quarter. Trekor maintained its full-year 2026 copper production guidance of 110 million to 115 million pounds at Gibraltar and 30 million to 35 million pounds at Florence.

Taseko Mines reported that its Florence Copper project produced 1.5 million pounds of LME Grade A copper cathode in the first quarter, with sales of 619,000 pounds. The company maintained its 2026 Florence Copper production outlook of 30 million to 35 million pounds. Florence is a key asset for Taseko, supplying copper to U.S. manufacturing sectors including automotive, semiconductors, defense, aerospace, and AI data centers, aligning with electrification and AI infrastructure demand.